Link copied
European Stocks Gain as Investors Shrug Off Trump’s Tariff Plans.
stock :: 2025-09-26 :: source - bloomberg
By Levin Stamm and Eleanor Thornber
(Bloomberg) -- European stocks gained as investors were unmoved by President Donald Trump’s plans to slap tariffs on patented drugs.
The Stoxx Europe 600 Index rose as of in London. The healthcare sector erased earlier losses to gain 0.2% after Trump said he plans a 100% duty on patented drugs effective Oct. 1, unless the producer is building a manufacturing plant in the US. Novo Nordisk A/S fell and Zealand Pharma A/S retreated 3%.
Most Read from Bloomberg
Trump Cancels Trail, Bike-Lane Grants Deemed ‘Hostile’ to Cars
Over 5,000 NYC Rent-Stabilized Apartments Headed for Auction
Trump’s Border Czar Involved in Detention Contract Talks Despite Recusal
“Given the lack of detail, the potential that only a limited number of drugs may actually be affected and the risk that wide-ranging prices rises could backfire politically, we would refrain from cutting pharma exposure in response to the announcement,” said Wolf von Rotberg, equity strategist at Bank J. Safra Sarasin.
In other individual stocks, STMicroelectronics NV was down after a Wall Street Journal report that the Trump administration weighs plans to reduce US reliance on chips made overseas.
European equities have been drifting in a narrow range as investors weighed the outlook for US interest-rate cuts. The focus later today will turn to the Federal Reserve’s preferred inflation gauge, the PCE index, for clues on the state of the US economy.
“It could be a good entry point to add rather than short European stocks,” said Sophie Huynh, portfolio manager and strategist at BNP Paribas Asset Management. “Pharma is a big sector, but it is very country specific. It will trigger nervousness, but investors will need to look at the bigger picture.”
For more on equity markets:
Risks and Promise Compete for Investors’ Attention: Taking Stock
M&A Watch Europe: Prosus, JTC, ACS, MFE, UniCredit, Noba Bank
Oman Eyes IPO Resurgence Led by Tourism and Tech: ECM Watch
US Stock Futures Little Changed; Carvana Gains
Another Loss for LSE: The London Rush
You want more news on this market? Click here for a curated First Word channel of actionable news from Bloomberg and select sources. It can be customized to your preferences by clicking into Actions on the toolbar or hitting the HELP key for assistance. To subscribe to a daily list of European analyst rating changes, click here.
--With assistance from Robert Brand.
Most Read from Bloomberg Businessweek
